Overview
A coin launched on Index is a normal pump.fun coin with one difference: its creator fees do not go to the launcher. They go to a vault the Index keeper controls, and every minute the keeper converts them into the tokenized stocks the coin was paired with and sends those stocks to the people holding the coin.
- Pairing. A coin pays in one asset or a basket of up to 8: NVIDIA, Tesla, the S&P 500, gold, SpaceX, OpenAI, and about two hundred more.
- Automatic. Holders never claim. Stock arrives in their wallet as a normal token transfer.
- Every minute. The keeper runs a fixed cycle every 60 seconds, not in rounds that wait for a pot to fill.
- Holder-first split. 90% of every creator fee goes to holders. 10% to the protocol. No NFT tier skims the pot.
- One ticker, one coin. Copying a live ticker costs 1 SOL, doubling with every copy.
Launching a coin
The launcher is at /launch. You need a Solana wallet with enough SOL for network fees, pump.fun's creation cost, any initial buy, and the ticker fee if the ticker is already live.
What happens when you launch
- Your image is pinned to IPFS, then a metadata document pointing at it. The coin's website is set to its own page on indexfun.cash.
- Index generates two keys: the coin's mint, and a fee vault key that will be the coin's creator on pump.fun. The fee vault key is stored encrypted and only the keeper can use it.
- One transaction is built for you to sign:
create_v2on pump.fun with the fee vault key as creator, plus your initial buy if any, plus the ticker fee transfer if the ticker is taken. The mint signs its half server-side; you sign as payer. - Index broadcasts it, waits for confirmation, and your coin appears on the grid within seconds.
If you cancel in your wallet, nothing is launched and the ticker reservation is released immediately.
Quote assets
pump.fun lets a coin be priced in something other than SOL. On Index you choose this at launch under Trades against:
- SOL (default). Creator fees accrue in SOL and the keeper swaps them to stock.
- USDC. Dollar-priced curve. Fees accrue in USDC and the keeper swaps them to stock.
- A stock. Any stock pump.fun currently lists as a quote mint. Fees accrue in that stock. If it is also the stock the coin pays, the keeper skips the swap and forwards it straight to holders.
Initial buy
You can buy some of your own coin at launch. For SOL-quoted coins the buy is inside the create transaction. For USDC or stock-quoted coins you still pay in SOL: after the launch confirms, Jupiter swaps your SOL into the quote asset and a second transaction buys on the curve. Three signatures in total. If the swap or buy fails, your coin is still live.
Rewards
What a coin can pay in
The catalog pulls from four issuers' own published lists, verifies every mint on-chain, and keeps only assets with real liquidity. The live list with prices is on the Stocks page.
| Issuer | What | Notes |
|---|---|---|
| Backed xStocks | US stocks, ETFs, gold. Tickers end in x (NVDAx). | 1:1 backed, freely transferable, no transfer fee. |
| Ondo Global Markets | Hundreds of US stocks and ETFs. Tickers end in on (TSLAon). | 1:1 backed, freely transferable. |
| Backpack Securities | US equities and ETFs incl. SpaceX. Plain tickers (NVDA, SPCX). | Broker-dealer issued, redeemable 1:1, listed via Sunrise. |
| PreStocks | Pre-IPO: Anthropic, OpenAI, SpaceX, xAI, Anduril, Neuralink and more. | 1% transfer fee on every hop. Some tracks expire. |
Everything in the catalog is Token-2022 on Solana and routable on Jupiter.
Baskets and rotation
Pick one asset or up to 8. With a basket the keeper rotates one asset per payout, in the order you selected them: a coin paired with NVIDIA and AMD pays NVIDIA on its first payout, AMD on its second, NVIDIA on its third. Over time holders accumulate the whole basket. The coin's page shows which asset is next.
Who gets paid
- Any wallet holding at least 0.01% of supply (100,000 tokens) when the keeper takes its snapshot.
- Program-owned accounts never receive payouts: the bonding curve, AMM pools, and any other PDA. Only real wallets do.
- Shares are pro-rata to balance among eligible holders.
- Small shares accrue. A wallet is paid on-chain once its accrued stock is worth $0.50 or more, because every first delivery costs the keeper a token-account rent deposit. The Rewards page shows earned, delivered and queued per wallet.
The keeper
The keeper is the piece that makes Index different. It is a process that runs the same cycle every minute for every live coin, signs with keys nobody else holds, and writes every step to the database and the chain.
The one-minute cycle
- Reconcile. Promote launches whose curve now exists; fail ones that never landed after 15 minutes.
- Sweep. For each coin, collect the creator fees pump.fun has accrued since the last tick into the keeper. 10% is split off to the protocol treasury in the same transaction.
- Swap. Once a coin's pending fees clear the threshold, swap them through Jupiter into the next asset in its basket. Skipped when the quote already is that asset.
- Snapshot and credit. Read every holder of the coin on-chain, drop program accounts and dust, split the stock pro-rata, and record each holder's share.
- Deliver. Send accrued stock to every wallet above the payout threshold. The keeper creates the recipient's token account if needed and pays its rent.
Thresholds
| Step | Minimum | Why |
|---|---|---|
| Sweep | 0.003 SOL, or $1 for token quotes | Below this the transaction fee eats the fee. |
| Swap | 0.01 SOL, or $2 for token quotes | Keeps Jupiter price impact and fees sane. |
| Credit | 0.01% of supply held | Dust wallets would cost more to pay than they earn. |
| Deliver | $0.50 accrued per wallet | Covers the token-account rent the keeper fronts. |
Transparency
Every sweep, swap and delivery is a public Solana transaction. Each coin's page lists its payouts with links to the transaction, the Revenue page aggregates protocol-wide numbers, and the keeper's last run time is shown there. There is no admin button that can redirect a coin's fees anywhere else.
Anti-vamp ticker fee
Vamping is launching a copy of a ticker that is already working to siphon its attention. On Index the first coin to use a ticker pays nothing. Every later coin that re-uses a live ticker pays a fee inside its own launch transaction, so the copy cannot land without paying:
| Copies already live | Fee to launch another |
|---|---|
| 0 | Free |
| 1 | 1 SOL |
| 2 | 2 SOL |
| 3 | 4 SOL |
| n | 2^(n-1) SOL |
The fee goes to the protocol treasury. The launcher sees the exact fee before signing. Tickers are compared case-insensitively, and a launch that was never signed frees its ticker again within two minutes.
Fees
- Launching costs only Solana network fees and pump.fun's own creation cost. Index charges nothing to launch.
- 10% of swept creator fees go to the protocol. 90% is converted and paid to holders.
- Ticker re-use fees go to the protocol in full.
- Token-account rent for deliveries is paid by the keeper, never deducted from holders.
- Jupiter swap fees and PreStocks' 1% transfer fee are paid out of the swept amount, like any on-chain cost.
Index vs. OTC
OTC proved the idea of paying holders in tokenized stock. Index changes where the money goes and how fast. Figures for OTC are from its own documentation.
| OTC | Index | |
|---|---|---|
| To holders | 67.5% | 90% |
| NFT desks skimming the pot | 10% | None |
| Buyback and burn of a platform token | 10% | None |
| Payout cadence | When 0.1 SOL accrues | Every minute, from 0.01 SOL |
| Minimum to qualify | $20 of the coin | 0.01% of supply |
| Claiming | Desk rewards must be claimed | Nothing to claim |
| Quote assets | SOL | SOL, USDC, or a stock |
| Ticker copies | Free | 1 SOL, doubling |
What is excluded
Only assets a holder can actually receive and trade are allowed. Left out on purpose:
- Securitize and Superstate tokenized shares: accounts are frozen by default or allowlisted, so an open airdrop cannot deliver them.
- Remora rStocks: the issuer wound down in early 2026.
- Jarsy: not on Solana.
- Anything below the liquidity floor, so a payout swap cannot be sandwiched into nothing.
Risks and terms
Index is a non-custodial interface to the pump.fun protocol plus an automated service that routes creator fees to holders. By using it you accept the following.
- No advice. Nothing here is an offer or recommendation. Coins are created by their users, not by Index.
- Eligibility. You are responsible for whether holding memecoins or receiving tokenized stocks is lawful where you live. Tokenized stocks are issued by third parties under their own terms and are restricted in some jurisdictions, including the United States.
- Best effort. The keeper depends on Solana, Jupiter and RPC availability. Payouts can be delayed. Thresholds, the fee split and the catalog can change.
- Fees are final. Protocol and ticker fees are shown before you sign and are not refundable once confirmed.
- No warranty. The service is provided as is. Index is not liable for losses from smart-contract risk, market moves, user error or third-party failure.